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South Korea's index circuit breaker, crude oil rose sharply, and gold and silver were forced to sell
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Hello everyone, today XM Forex will bring you "[XM Forex official website]: South Korean index circuit breaker, crude oil rose sharply, gold and silver were forced to sell". Hope this helps you! The original content is as follows:
Zheng's Point: South Korea's index melted down, crude oil rose sharply, and gold and silver were forced to sell off
Reviewing yesterday's market trends and emerging technical points:
First, gold: Yesterday morning In line with the high opening and rising, it also reached the expected 5380; after that, according to the weekly video interpretation, it was under pressure that 5380 fell to 5280-60 before looking to stabilize and rise. However, it only reached 5305 twice during the day. However, the US market still insisted that it was cautious to chase the rise at the high level, and it was easy to rise and fall back. Finally, it reached 5280-60 as scheduled, with 5280 support heading north at night, and reaching 5340, 5380 and other targets this morning;
Second, crude oil: It also opened sharply higher on Monday and opened higher at 66.4 last Friday. to 75; this analysis is that 69.5 can continue to move north. Taking into account the top-bottom support and the daily line level 618 division position, conservatively move down to ambush 68 and choose to go north. The result is that it is empty;
Today's market analysis and interpretation:

First, the daily level of gold: Today, gold has a sharp drop of 300 meters. Why is the United States and Iran still in conflict, and the geopolitical situation is still tense, gold will plummet; the reason is that the global stock market collectively fell sharply today, especially the South Korean index, which caused a circuit breaker. The panic situation in the market triggered a liquidity crisis, and assets such as gold and silver were forced to sell off in order to increase margin funds in the stock market. This situation was similar to that in March 2020. In addition, oil prices rose sharply, worries about rising inflation, and lowered the probability of interest rate cuts, scaring away some safe-haven buying.; However, it is only a short-lived behavior and will not affect the rise of the gold bull market. Once the stock market stabilizes and no longer panic sells, gold can easily resume its safe-haven properties and continue to strengthen and break new highs; and judging from the technical graphics above, it has been in the past few days. It is emphasized that it is moving in a similar way to November and December last year. It is a shock step-like upward movement. It is not a strong unilateral upward movement. It is just a rapid and sharp decline today. This intensity is too strong all at once, which will be a little unprepared, and it pierced the 10 The moving average and mid-rail support are still there. It can also be seen from the yin and yang pattern that the yin lines are basically single yin, and the declines are basically all in one fell swoop. The lows hit on February 6 and February 17 were all at the 618 division of the previous wave of gains. The split position of 618 this time is around 5062, which is basically near the middle track, so it may be the bottom of short-term suppression and needs to be focused on; once it is stabilized, it will be followed by shocks and a slow rise;

Second, the golden hourly level: there was a wave of suppression overnight. In the morning of today's Asian session, 5380 was under pressure. At that time, a downward channel was formed relying on 5302-5261 and 5416-5380. Therefore, the rebound was close to the upper track of the channel. 5374 ambush south in advance and successfully reached the 5280 support, which belongs to From February 24th to 27th, the upper track of the box consolidation range stepped back to confirm the support point, and then stabilized and pulled up to reach the middle track of 5335. These two waves can be caught; and the original derivation idea was to rebound to the upper track of the channel 5250-60 and then go south, treat it as a high-level convergence triangle consolidation, then go down and stabilize above 5280 before going north, but As a result, the European market plunged, and all European stock markets fell sharply. Technically, they also lost the key trend support node of 5280, breaking through 5200, 5092 and other supports all the way, with the lowest touching 5075; then the European market is weak, and the rebound before the US market may still attract bulls. There is a second decline. For support, pay attention to the vicinity of 5060, where you can try to go north on dips ( The fluctuations are too large, there is inertia, and an error of 10 meters is normal); the current resistance is 5207, the counter-pressure point of the lower rail of the golden channel, and 5236, the 618 dividing resistance of the European market's rebound from the decline, with big ups and downs, try to get stuck at 618. If the 618 resistance directly breaks through the station, it will be easy to wash the market back;

In terms of silver: after the fluctuations amplify rapidly, it is easy to generate inertia and be unable to stop the car. The lower track support of the yellow channel in the original picture is the 80 line, which is also close to the 618 division position of the previous wave of 72-96. After breakdown, there will be counter pressure. It is a flop. The focus tonight is to focus on whether the 80 position can be held; the European market is also weak. The US market dips for a second time and then pulls up. If it can return to this channel and stand at 80 again, then consider low and move north. If the inertia hits again, the support will be focused on 77-75. When the stabilization and reverse elongation lower shadow K occurs, the time point occurs after 22 o'clock, then the low point is likely to stabilize; the key resistance above is the hourly mid-rail 87.5, if it breaks above the station, the weak shock will turn into a strong shock;

Crude oil: When liquidity is insufficient, assets will sell off, including crude oil www.xmtraders.commodities, but today crude oil continues to rise sharply. The reason is that the Strait of Hormuz is gradually blocked, and the Middle East energy hub has been hit hard again; technically, the European market continues to rise, and the U.S. market has retreated to consider a second upward move. Note the top and bottom support of 74-75, the position of the hourly 10 moving average. If it is stable, continue to look upward; if it is not stable, it will fluctuate between the high and low points of the day;
The above are several views of the author's technical analysis. As a reference, it is also a summary of the technical experience accumulated in the past 12 years by watching and reviewing the market for more than 12 hours a day. Every day Tianhui will disclose technical points with text and video interpretation. Friends who want to learn can www.xmtraders.compare and refer to the actual trend; those who agree with the idea can refer to the operation, take good defense, and risk control first; those who do not agree can just ignore it; thank you for your support and attention;
[The opinions of the article are for reference only, and investment is risky. , when entering the market, you need to be cautious, operate rationally, strictly set losses, control positions, risk control first, and be responsible for profits and losses]
Writer: Zheng's Dianyin
Reading and researching the market for more than 12 hours a day, persisting for ten years, detailed technical interpretations are made public on the entire network, and serve with sincerity, dedication, sincerity, perseverance, and wholehearted service to the end! Write www.xmtraders.comments on major financial websites! Proficient in K-line rules, channel rules, time rules, moving average rules, segmentation rules, and top-bottom rules; student cooperation registration hotline - WeChat: zdf289984986
The above content is about "[XM Foreign Exchange Official Website]: Korean index meltdown, crude oil rose sharply, gold and silver were forced to sell". It was carefully www.xmtraders.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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